InstructorKate Chatterson
TypeOnline Course
PriceFree
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Tuition Options

myUniversity™

PracticeEdge Elite™

Standard Tuition $400

Senior Fellow Anthony Conte, Principal, Financial Services Advisory, PriceWaterhouseCoopers

Through speeches, examinations and enforcement actions, the SEC and its staff have made clear that they consider asset managers/ conflicts of interest to be one of the agency’s primary focus areas. Fiduciary duty and conflict mitigation were founding principles of the Investment Advisers Act, and the organization of the Asset Management Enforcement Unit and the creation of specialized alternative fund teams within OCIE reflect a renewed focus on conflicts and the SEC’s zeal for pursuing related cases.

In general, SEC staff are combing for examples of transactions, arrangements and situations that are consciously or unconsciously biased in favor of an investment adviser’s own financial interests. As a result, the SEC’s activities in this area have created new and more defined regulatory expectations that unfortunately are not stated expressly through rulemaking or interpretive guidance.

 

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LEARNING OBJECTIVES

FACULTY

CREDIT INFO

ACCREDITATION

Students will master the following at the conclusion of this session:

  • Evaluate recent enforcement cases regarding conflicts and practical techniques for addressing/mitigating similar conflicts within their firm.
  • Review issues around allocation of expenses between fund, managers and investors, including expenses relating to private equity operating partners.
  • Recite examples of institutional conflicts that arise from the relationship between a private fund manager and its funds’ portfolio companies and service providers, including conflicts that arise from:
    • Allocation of fund and portfolio company expenses;
    • Relations with service providers and vendors;
    • Expense shifting between funds;
    • Portfolio company capital structure; and
    • Transaction, monitoring, consultancy, and directors fees paid by portfolio companies to a manager or its personnel.
  • List primary conflicts involved in “side-by-side” management of performance fee- and non-performance fee-accounts or funds.

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Senior Fellow:

Anthony Conte, Principal, Financial Services Advisory, PriceWaterhouseCoopers

Guest Lecturers:
Elizabeth Crotty, JD, Director, Asset Management Regulatory Practice, PriceWaterhouseCoopers
Anthony Kelly, JD, Assistant Director, Division of Enforcement, Asset Management Unit, SEC
Kent Knudson, CPA, Director, PriceWaterhouseCoopers
Mark Perlow, JD, Partner, K &L Gates

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Accreditation Information

CLE Information

Credit Hours: 2
Subject Area: Professional Practice
States: Contact Curriculum Advisor For More Information

CPE Information

Credit Hours: 3.5
Subject Area: Accounting
States: Contact Curriculum Advisor For More Information

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Alabama: Approval of all web based programs is limited to a maximum of 6.0 credits.

Arizona: Does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. RCA programs may qualify for credit based on the requirements outlined in the MCLE Regulations and Ariz. R. Sup. Ct. Rule 45.

Iowa: The approval is for one year from recorded date. Does not approve of Audio-only On-Demand Webcasts.

Missouri: On-demand web programs are restricted to six hours of self-study credit per year. Self-study may not be used to satisfy the ethics requirements. Self-study can not be used for carryover credit.

New Hamphsire: The approval is for three years from recorded date.

New Mexico: On-Demand web programs are restricted to 4.0 self-study credits per year.

New York: Newly admitted attorneys may not take non-traditional course formats such as on-demand Web Programs or live Webcasts for CLE credit. Newly admitted attorneys not practicing law in the United States, however, may earn 12 transitional credits in non-traditional formats.

North Carolina: A maximum of 4 credits per reporting period may be earned by participating in on-demand web programs.

Ohio: To confirm that the web program has been approved, please refer to the list of Ohio’s Approved Self Study Activities at http://www.sconet.state.oh.us. Online programs are considered self-study. Ohio attorneys have a 6 credit self-study limit per compliance period. The Ohio CLE Board states that attorneys must have a 100% success rate in clicking on timestamps to receive ANY CLE credit for an online program.

Oklahoma: Up to 6 credits may be earned each year through computer-based or technology-based legal education programs.

Pennsylvania: PA attorneys may only receive a maximum of four (4) hours of distance learning credit per compliance period. All distance learning programs must be a minimum of 1 full hour.

Rhode Island: Audio Only On-Demand Web Programs are not approved for credit. On-Demand Web Programs must have an audio and video component.

Tennessee: The approval is for the calendar year in which the live program was presented.

Virginia: All distance learning courses are to be done in an educational setting, free from distractions.

Wisconsin: Ethics credit is not allowed. The ethics portion of the program will be approved for general credit. There is a 10 credit limit for on-demand web programs during every 2-year reporting period. Does not approve of Audio-only On-Demand Webcasts.

Iowa, Mississippi, Oklahoma, and Wisconsin DO NOT approve Audio Only On-Demand Web Programs.

If you have already received credit for attending some or the entire program, please be aware that state administrators do not permit you to accrue additional credit for repeat viewing even if an additional credit certificate is subsequently issued.

If applicable, the RCA will apply for credit in your state upon request.